Gas
Novatek acquires ice-class LNG carriers for Arctic fleet
Russian producer Novatek has expanded its shipping capacity by acquiring at least two ice-class LNG carriers.
Key points
- Novatek Gas&Power Asia Pte is listed as the commercial operator of the North Ocean and North Moon tankers.
- The vessels were previously operated by Japan's Mitsui O.S.K. Lines.
- The acquisition helps address fleet constraints affecting Arctic LNG projects under Western sanctions.
What happened
Russia's largest liquefied natural gas producer, Novatek, has added at least two Arc4 ice-class LNG carriers to its fleet, according to registration and shipping data cited by Marine Link. Shipping database Equasis and LSEG data indicate that Novatek Gas&Power Asia Pte now acts as the commercial operator for the North Ocean and North Moon tankers.
Built at a South Korean shipyard between 2024 and 2025, the vessels were formerly operated by Japan's Mitsui O.S.K. Lines. Both companies declined or did not reply to requests for comment. LSEG data shows the tankers are currently navigating the Northern Sea Route from South Korea.
Why it matters
Fleet limitations have previously weighed on the advancement of Novatek's liquefied natural gas initiatives, particularly the Arctic LNG 2 project, as the company faces Western sanctions over the conflict in Ukraine. The European Union placed several of the newly acquired vessels under sanctions last year, though they were later removed after providing assurances regarding specific project shipments. The ships underwent ownership and operator changes in September, reflagged to Panama, and received new names in October.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
Gas is the flexible backbone of many grids and the designated transition fuel in many national plans, from LNG trade to domestic LPG and CNG. Supply security and pricing drive both power reliability and emissions.
45.3% of electricity in Russia came from gas in 2024Countries in this story
Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
